La Verne Shopping Center receives $4.4 million refinance from NorthMarq Capital’s Los Angeles office
La Verne Shopping Center
LOS ANGELES (September 1, 2015) – Michael Elmore, executive vice president/managing director and Ory Schwartz, senior vice president/managing director of NorthMarq Capital’s Los Angeles based regional office arranged the $4.4 million refinance of a shopping center located at 1400, 1410 and 1480 Foothill Boulevard in La Verne, California. The transaction was structured with a 13-year term and 30-year amortization schedule and featured a 4.46% fixed rate for 10-years with a floating tail. NorthMarq arranged financing for the borrower through its relationship with a national bank. RiteAid, AutoZone and Carl’s Jr. represent the property’s major tenants.
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
